Comments by Yuri Mazur, Head of Data Analysis Department of CEX.IO Broker
September 25, 2020 RepublicanMichael Conaway, a member of the US House of Representatives, has proposed a bill called the Digital Commodity Exchange Act. Consideration of the bill will most likely be postponed until the newly elected US President takes office.
The bill should end legaluncertainty about the status of cryptocurrencies in the American legal field, giving them the status of digital raw materials and making them subject to regulation by the US Commodity Futures Trading Commission.
If the bill is passed and Libra getsstatus of a digital resource, then Facebook will have a real chance to avoid legal red tape with the US Securities and Exchange Commission, which did not allow Telegram to conduct its ICO in the US.
As for the economic potential of Libra, itvery high, as Facebook has a huge audience. Therefore, if Libra is successfully registered by the US Futures Exchange Trading Commission, Libra will be able to firmly enter the top 10 cryptocurrencies in terms of market capitalization.
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